【财经看点】二套房最低首付比例降至20%

Chinese authorities have lowered the down payment ratio for second home purchases as of today. The minimum down payments for second home purchases is being lowered from 30 to 20 percent. In addition, authorities in Beijing, Shanghai, Guangzhou and Shenzhen are now allowed to adjust their own minimum down payment ratio on 2nd homes. Hu Jinghui, vice president for a major real estate agency, says second property purchases are more important than buying new houses in major cities. "Upgrading to another home is special in that it involves both buyers and sellers, especially in the second-hand housing markets in Beijing, Shanghai, Guangzhou and Shenzhen, where 70 percent of transactions are triggered by this need. From the perspective of developing an active market, upgrading has a bigger significance than the first property." Right now, only people who have fully paid-off the mortgages on their first homes will be able to qualify for the lower down payment.